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European shares are at their lowest valuation relative to the U.S. in 40 years, says BCA...

  • Tuesday, July 17, 2012, 1:08 PM ET
    European shares are at their lowest valuation relative to the U.S. in 40 years, says BCA Research, which advises not pulling the trigger until a "market riot" finally forces the ECB to become more like the Fed. Ideas: Total (TOT) and Shell (RDS.A) sell at far lower multiples and higher yields than XOM. Sanofi (SNY) and Siemens (SI) - stunningly cheap.
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    This has been an interesting trend this year. I mostly avoided EUR denominated shares with a preference towards Norwegian or Swiss founded/based companies, other than my long term holdings in TOT. With the EUR losing ground to the USD it makes some of these companies shares into great bargains. I picked up some shares in SI not long ago, but I am waiting on further market weakness to increase my position. The trend is dragging slowly downward, so patience is necessary.
    17 Jul 2012, 02:33 PM Reply Like
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